Rockstar Vancouver is currently finishing up the anticipated third game in the Max Payne series. While that game might well revitalize the noir-inspired shooter, Rockstar co-founder and vice president Dan Houser indicates the next game might be a sequel to Bully.
"Contrary to a lot of people, we like to take a little bit of time at the end of a game before starting a sequel, so we can wait for the excitement or disappointment and everything else of the experience to shake down and really see what we should do in the next game," said Houser to Gamasutra. "So we knew that we didn't want to start doing the Bully sequel instantly at that second with those guys [at Rockstar Vancouver] -- even though it is a property that, like Max [Payne], we adore and might come back to in the future.”
“There was just no impetus to do that then,” he continued. “So we said, 'you can do Max, and then we will see what we can do with Bully.' It was really waiting for the slot to open up and the group to open up to at least start work on it."

